Showing posts with the label Wall Street

A case against Obama

By every single metric people are worse off and suffering more now under Obama than they did under Bush. The only one's who are actually doing better are the hyper rich. Obama took trillions in stimulus and bailout money and gave it to his Wall Street banker buddies who turned around and either invested it in foreign banks, gave themselves huge bonuses, invested it in risky hedge funds (which they promised they wouldn't do) or loaned money to their fellow banks at near 0% interest rates here in the US, they were supposed to lend that money to the middle class, the working poor and small business owners and that is precisely what they didn't do! Credit is still very tight and there is no sign that liquidity will open up anytime soon. Obama's Federal Reserve has pursued one of the most reckless policies in history with quantitative easing (buying up $600 billion - $1 trillion USD), QE1 was proven to have failed, so they stupidly went away with QE2 and now we see that h